Beyond Meat (NASDAQ:BYND) has penetrated the kitchens of one of the most storied chain restaurants: The alternate-protein specialist has announced that it is launching a "sneak peek" of its Beyond Fried Chicken product at a clutch of Yum! Brands' (NYSE:YUM) KFC outlets.
Starting Monday, more than 50 KFCs in Southern California will have Beyond Fried Chicken on their menus. It is to be available in six- or 12-piece servings, accompanied by a choice of dipping sauces. It will also be sold as part of a combo meal. Beyond Meat said that prices will start at $6.99 plus tax.
Unlike other Beyond Meat products, Beyond Fried Chicken -- which underwent a brief pilot test at KFCs in Atlanta, Charlotte, and Nashville last year -- is the specific result of a collaboration between the two companies. Beyond Meat says that in the initial stage of that first test, a one-day run in Atlanta, the dish sold out within five hours.
Beyond Meat did not proffer any estimates for how Beyond Fried Chicken might impact its business if this trial run expands to more KFCs. It did say that the chain "is a true category leader and we are proud to be their partner of choice as they make delicious plant-based chicken more accessible to consumers."
Starting Monday, customers will be able to discover where Beyond Fried Chicken is being served by going to KFC's location finder and looking for the new menu item's special indicator on the results page.
Despite the encouraging news, Beyond Meat's shares fell 2.5% on Thursday, a sharper decline than that of the wider stock market and many of its consumer goods peers.